swings and it looks a lot less likely. can pea body, can his sell recommendations hold up? >> they like to dig in their heels when they're wrong and they didn't get that hideous a number. how about tangible book value? that's a real good way to measure a bank's work, basically, it's what the bank would sell for if it was cash. most book values are considered to be too high, inflated these days in the bank rule, but the government used to own a big chunk of citigroup. ♪ >> so my thought is this book value is scrubbed and real deal. if that's the case the stock might be too cheap selling at $53 in tangible book after this quarter right where the stock is. i would also like to continue decline in the assets of citi holdings. now down to $131 billion and it used to be 131 billion. why does it matter? because lots of the holdings in citi holdings require a tremendous amount of service.

there are endless legal bills associated with the deadweight asset and the sooner citi holdings disappear the better. >> house of pleasure. >> how about the fact that citi posted 11% revenue growth year over year in the very markets i was worried about. hard to get double digit revenue growth. have you seen the terrific decline? loan loss analysis? that's equal to 3.4% of the loans at the end of the prior quarter. these are big banks so the numbers seem large, but they're nothing compared to the overall. finally capital levels are in excellent shape and regulators have nothing to fear here. they've risen from 43 to 52 since the 10 for 1 split a few years ago. remember, divided by ten. institutions don't like to own stocks under five. the submit made some sense to do. from now on, though, it will be the earnings that drive the stock and the earnings are there

and citigroup is not done and it is a cheap stock and the big bets against it no longer hold water. i say citi's a buy. how about leap wireless? wasn't leap left for dead? you should have seen theme scrambling this morning. they're printing out these notes and they're trying at 6:15 i'm getting these notes upgrade from sell to hold. thank you for nothing! along comes one of the shrewdest most well capitalized in the countries and at&t offering to pay nearly double what leap was selling for on friday morning. >> buy, buy, buy, buy, buy! >> and at&t might not be able to obtain the amount where it was trading a couple of bucks above where leap stands. wireless companies need to expand the business and it was worth much more than even the bulls thought. it's a hugely strategic asset and maybe even sprint softbank to enter the fray. wouldn't that be something. how could the analysts get it so wrong? because time and again they only look at the earnings per share estimates which were pretty

pathetic in the cutthroat business that is wireless, but they don't look the strategic value of the enterprise. we had a spectrum shortage and they all need to get their hands on more of it. the only clump of spectrum. at least worth grabbing is dish. hard-charging, swashbuckling manager because he wants to augment his spectrum. you know what? i don't mind owning that one, either. in reality this left for walking dead company wasn't left for dead at all and the valuation wasn't set by the analysts and they are way too bearish and they kept you out of a good one. thanks for nothing. all you say to these doubting analysts is you should have covered it, too, hewlett-packard, and here's a dow component down 44% this year and it's an epic 85% run for the last seven months and done much without the analyst community. and news for clay nation death

match, but i like what we heard today from the company itself. the addition of three unbelievably good board members and john bennett used to run liberty media and the chief software and then one of my personal heroes and the retired ceo of mcdonald's. why does this matter? we don't talk about boards of directors on "mad money," the single worst, most subversive least helpful board of directors in america, and i like this move very much and i think the stock can go higher still. we keep seeing this pattern where the analysts are too negative versus fundamentals and the patterns are always the same even as it turns out there's plenty left in the tank and they say valuation, give me a bank. >> microsoft and wells fargo. the last two being key positions and you can follow along on my charitable trust.com and the leaps and the hewlett-packards and the cigroups and plenty of others like -- including best

buy up 150% for the year or most egregious netflix, 179. so here's the bottom line, one of the most important reasons the market won't quit is refusing to leave on the upside or simply writing off huge winners entirely. it might be the single best one for 2013 and something tells me if you see this action in a leap wireless or citigroup, perhaps you haven't seen anything yet maybe each winning company wants to suck the short seller's blood. how about fozzy in colorado? fozzy. >> boo-yah, jimmy! i'm calling about yahoo. i was calling to see. it looks like a handle chart there. are we moving higher? is it safe to buy more? >> i was so afraid when i saw it was fozzy. i think miss meyer is doing a fabulous job and i welcome her on the show. she'd be a fabulous guest. i know her company better than

most. should we take another? how about we go to chris in virginia. >> mr. cramer, boo-yah from arlington, virginia. >> yo, yo! >> i want to know your thoughts on lenovo. i've owned it since may. i understand last week they went to the new york stock exchange. do i sell or the fact that they went on the market, is that a catalyst for more growth? >> it doesn't matter they were in the market, i just happen to like the bio printing technology, but it's a speck, my friend and as long as you know that, then it's okay. let's go to ravi in new jersey. >> hi, jim. how will microsoft's recent corporate restructuring impact shareholder value and what is your overall opinion? >> one microsoft, kind of like one ford. al mulally and steve ballmer are friends. i like the synergy there. the analysts are still too negative for microsoft. the stock has run from 27 to 36 since last quarter. don't expect a move, okay? but the stock is undervalued and think the entertainment business

is worth much more than people realize. being back from the dead has never looked better. just ask suky. stay with cramer. coming up, street heat? they're an exciting way to stay in the game, but while some ipos like the ticker, others fall flat. tonight, cramer reveals the keys to success, and which ones can soon heat up when you get to "know your ipo." and later, supermarket? milk, cereal, hmm, let's see, how about adding some stock to your shopping list. kingpin kroger just swallowed up a rival chain. can this phenom go from stagnant to health mode? put some shares in your cart or leave it on the shelf? cramer decides. plus, good harvest? the world population is expected to grow to nearly 9 billion people by 2050 and agriculture company agco is helping feed the globe.

can this long-term theme help the stock grow or could weakness overseas leave the company high and dry? cramer has the exclusive with its ceo all coming up on "mad money." don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, #madtweets and send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com.

for those of you who are worried that the easier money -- has already been made in this market since the averages are flooding along in new high territory, let me point out there is still one area where you can rack up a whole lot of gains and not a lot of time and it's the pin action in the ipo world. last week i told you how the ipo market was red hot in the second quarter. with biotech consumer and technology stocks, and i gave you all of those and you can go to cnbc.com which is brand new and beautiful, by the way. it i believe it will continue to work and today i will use the

road map to share the companies that are coming public as we finish off the month of july and there are very exciting companies. i have three deals i want you to try to get a piece of that are coming in the next two weeks so go do your homework and the online consumer play and when i first heard it i said can you give me a break? >> i like it. i'm talking about retail me not or retail me not like forget me not. you might want to take a look at it. retail me not is the world's number one purveyor of digital coupons, and they operate the top coupon websites with popular apps for both the iphone and the android. this sounds gimmicky and we know consumers do love their coupons. jc penney almost destroyed their business when they stopped giving them out. retail me not is a real company and it's got real numbers. this is not some fly by night ipo that had 20 million unique

eyeballs or whatever. no, this is real. retail me not has contracts with over 10,000 retailers. and whenever someone uses a coupon taken from some of the websites either from the internet they collect a commission. >> last year the company had sales of 80% and the net income had 26 million bucks. i'm not kidding. retail me not is making good money. however, there are legitimate concerns and hey, is it the next groupon which i now like, but didn't like for a long time and the mason guy, and whatever. retail me not may not be growing rapidly. it's growing rapidly, but here's the problem. when i look at their business i think there really aren't any serious barriers to entry in the digital coupon space, but i think somebody could. competition is growing and the first day of trading and it was bad company. so if you got it on the deal for retail me not, you know what?

i think you'll make a bundle and that's the strategy i want. that's what i want you to do. the company plans to sell 9.1 million shares for 20 to 22 each. i say call your broker and try to get shares in the deal as long as it actually prices below 24. 24 is your magic number. then you need to turn around and you need to sell, sell, sell retail me not into the initial spike right after it comes public. play the music. this is a steve miller ipo, okay? you want to take the money and run. don't be a space cowboy. next up, agco med pharmaceuticals, that's an early stage biotech. already my ears are burning. i love those. early stage biotech firm starts trading thursday. this reminds me of epizone that came public in the end of may and it was 53%, second best performer in the first day of trading and it hasn't looked back since uncle med. which has a revolutionary approach when it comes to cancer treatments and the anti-body

therapies to destroy cancer stem cells and they allow them to grow in your body. it has a five-drug candidates in clinical developmental though all of them are in phase one trials since they're many, many years away from the market. the company has two major partnerships and glaxosmithkline and the other with bayer and we know from epizine whose impressive ceo we spoke to on friday and these collaborations are crucial for the early stage biotech companies and based on the fabulous performance of the biotechs, i think this can roar when it starts trading on thursday and then i think we can keep running. they sell 4 million shares at a price of 14 and 16. if you want in on this one do some homework and call your broker. if you can get in on the deal, i say ring the register on some, but you know what? the history of these biotech

stocks, i want the rest of you -- i want you to ride it. i'm not kidding. let the rest ride. next week, we have another biotech firm, and here's a company in my two favorite sweet spots and they treat a subset is genetic metabolic diseases and this is where drug companies can charge hundreds of thousands of dollars and you can offer a lot for the course of treatment because they're selling life-saving medications that patients can't live without and congress wants you to do that. they want these drugs. or if you're more of a glass half full person you can say you can't put a price on life which or if you're more of a glass half full person you can say you can't put a price on life which is yet orphan drug companies have been so successful. it is still in preclinical development and earlier stage than on commit which is earlier than epizon. they target the metabolism of cancer cells disrupting the

ability to have nutrients into growing technology. these drugs aren't even in promising target, wow damaging the rest of the body. remember, that is the theme of these. they no longer carpet bomb the body and they go after specific parts of the cancer. the same time they're developing treatments for what are known as in errors which are no disease or modified owner. a decision that causes the break down of this blood cells and that should earn some time last year and even though they're a long way from having a product they can sell, they have a deal with celgene. celgene has anointed this and who am i that the fabulous ceo offal gene doesn't plan to sell. this is another one where if you

can get a piece of the deal, i expe the first day of trading to be great, but then let the rest ride. i know, highly unusual for us, but the biotechs have been more than one-day wonders and finally there's been an intriguing one. energy, energy, yes, the big utility is doing a spin-off on wednesday. energy yield that i think is worth checking out. unity ipo, a youngster, utility ipos had the best week of all stocks. people now see these stocks as bond market equivalents vulnerable to interest rates rising. however, energy has held up and the stock is currently at a 52-week high and the dividend vehicle and the plan is for the company to support a 6% yield and now i can't bust this ipo on the current environment, but it is absolutely worth watch to see if the mark has saved it over the high yielders here's the bottom line. we have three sexy ipos coming over the next two weeks that are worth getting a piece of that i

want you in. >> buy, buy, buy. >> retail me not, and get out once it starts trading. >> well, if you get in on the ipo they'll sell some shares on the first day and then sweeten if you let the rest fly. coming up, supermarket, milk, cereal, let's see, how about adding some stock to your shopping list? grocery kingpin kroger just swallowed up a rival chain, but can this food phenom now go from stagnant to stealth mode? put some shares in your cart or leave it on the shelf? cramer decides. [ female announcer ] crest + scope

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it's hard to tell when they're not jersey tomatoes. clearly not new jersey tomatoes. here on "mad money" we like underrated stocks that don't get the respect on wall street. they're based out of new york. they often miss or don't understand what's going on in the rest of the country. so tonight i want to tell you about the under appreciated supermarket in the whole united states because, well, let's just say it'sot centered on wall street! i'm referring to kroger! the second largest supermarket chain in the country with over 2,400 locations.

kroger is the best regular supermarket in the business. friday the stock was downgraded from neutral to sell by goldman sachs because they see softness in the broader industry and they think kroger in particular is too expensive. all i have to say is wrong! just last week kroger did something that makes me a believer in the company's future. on july 9th it happens to be my father's birthday, and the high-end grocery stores and most of them located in the southeast and the mid atlantic which happens to be a premium to what harris teeter started trading before media reported they were putting it on the block. the tale is what happened to kroger after the news broke. the acquired jumped 2.6% that day, a move that makes a ton of sense, but i feel very lonely saying so. i feel like a melon head -- no, because then i have to clean it up later.

you know i do all of the clean up here, too -- all right. remember, this is something that we have been seeing a lot of lately. no one expects the shares to go higher and it usually goes down, but sometimes the deal makes so much sense that the stock becomes unstoppable like when ginnett bought bilo, when activists bought warner chill cot and when b & g foods, remember the pirate's booty or most recently just today when the number one canadian supermarket bought shopper's drug mart and i'm willing to bet that's the case with kroger's harris teeter acquisition. so come goldman sachs downgrade to kroger to sell. kroger doesn't command nearly the respect it deserves on wall street. dangerfield super market. some of this has to do with the simple fact that for a long time the supermarket industry used to not make a lot of money kind of

like the rental car companies before the outrageous changes. and some supermarket chains aren't doing that. safeway, for example, not great shape. supermarket used to be challenged when the two bucks and the stock has come back with a vengeance and now that the people are no longer worried that it can go higher like best buy and hewlett-packard. once they're not worried, they can go up a lot. the second thing is that there are a group of grocery stores that are red hot and they get the credit they're due from wall street. the analysts met their wives husbands there and all of the organic place and when you think of this in terms of the organic and nonorgan dichotomy, it's a non-organic name that's actually doing quite well which leads me to the third reason why people in this game don't appreciate kroger's strength. it's the snob factor! take a look, right now kroger operates in 31 states, okay? throughout the midwest and the south and california as well.

remember, this is the second biggest supermarket chain in the country after walmart. kroger's where real people go to shop, but for many of the wall street analysts who live right here, the stores might as well not even exist. these analysts shop at whole foods and fairway. they don't have a clue about what happens here west of the hudson! maybe some of them went there, too or maybe they played for green bay and that's when your opportunity comes in because wall street's snobbish. what happens in the heartland stays in the heartland attitude and it should be trading in the wake of this harris teeter deal. see, maybe i have to analogize. kroger is playing at the shawshank redemption which i watched for the tenth time at the summit elks club, no less. get busy living or get busy dying and buying harris teeter is the way to get busy living

and they have 212 locations across eight states, but there's hardly any overlap with the kroger store base and this deal will allow them to expand in the southeast especially in the growing cities of north carolina and the mid atlantic and they'll have 40 to 50 million and i think they're low balling that, and i think they're being conservative. more importantly, kroger is serious about building out a truly natural footprint and just like this one in order to move into new markets and eliminate the competition. i think goldman sachs made a mistake when they downgraded kroger. sure, the stock has had a monster move lately up 4% to 5% year to date and compared to 179% and lowly worm safeway has rallied 38% since beginning of 2013. and the supermarket stocks are doing better and the old school traditional grocery stores, too, and in my view, it is the best of the bunch which is why we recommended it on may 28th and has given you a fabulous 52%

gain, although kroger is a few cent away from the 52-week high and i'll pulback if you don't want to own one already. on the other hand, get this, kroger is trading at 12.2 times next year's earnings and it's got a 9% long-term growth rate and that's not at all expensive when you consider the company's earnings and the fact that kroger has posted the best numbers of the supermarket chain, quarter after quarter after quarter and the private label store brand products in the business and that's 25% safeway and 20% at super value. listen to this, it's usually important because they carry gross margins that are 10 to 15% points higher. that means much greater profits. here's the bottom line, too many companies are just standing there like they're obtuse! kroger is actually doing

something to enhance its future growth. the market may have been roaring lately, but you need to think of it as a stock version of shawshank state prison where the analysts and not the warden are obtuse! companies either gets busy living or get busy dying or go to zihuatanejo and they're getting in the busy living column. you just might not realize it because this is the heartland's grocery store and unless there's something happening in new york city where the analysts on wall street would have to be blind to ignore it, they often don't understand the importance of what's going on. another reason why we listen to cramerica. all of cramerica. do not be a snob! buy some kroger the next time you get a chance to shop. it's a terrific place to shop and a terrific stock to buy. rodney in south carolina! >> rodney! >> hey, jim, what about walmart? give me your thoughts. >> think walmart's okay, and i prefer target and costco which my charitable trust, and it's the cheapest of all. why don't we go to bill in florida? bill! >> hi, jim. how are you doing? >> real good, bill. how about you? >> i live in the land of the manatee now.

>> the manatee! you have to keep the boat engines away from the manatees! >> that's right. jim, the reason i'm calling you is i've seen you talk to some of these ceos like chipotle mcdonald's, et cetera, and i don't hear any mention about sonic. i've had it about a year and i'm up 68%. >> that's my bad and i like the ads are funny and there are two jokers sitting in the car and stuff and they have 200 shakes now, but you know what? i can't recommend them all and >> hi, jim. how are you doing? >> real good, bill. how about you? >> i live in the land of the manatee now. >> the manatee! you have to keep the boat engines away from the manatees! >> that's right. jim, the reason i'm calling you is i've seen you talk to some of these ceos like chipotle mcdonald's, et cetera, and i don't hear any mention about sonic. i've had it about a year and i'm up 68%. >> that's my bad and i like the ads are funny and there are two jokers sitting in the car and stuff and they have 200 shakes now, but you know what? i can't recommend them all and the texas roadhouse has been good and red robin gourmet has been good and panera and you only have so much restaurant bandwidth in the end. all right. it may be a concrete jungle where dreams are made of and the great city of new york is also where most of the analysts live and that's why they don't understand the goodness of kroger.

they probably put a kroger -- they probably put a kroger grocery bag over their heads before they would shop there. don't move. the lightning round is next. tomorrow, kick off the trading day with "squawk on the street," live from post 9 at the nyse. >> another eye roll? i'm be giving you an eye roll >> i'm going to take you to an opthalmologist? it all starts at 9:00 a.m. eastern. every week without a second thought. 5-hour energy has less caffeine than some starbucks coffees, plus it has vitamins and nutrients. it's simple... caffeine with vitamins and nutrients. it's the combination that makes it so great. before you make a decision, get the facts. try a sip and find out why so many people love 5-hour energy.

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it is time -- it is time for the lightning round on cramer's "mad money." >> buy, buy, buy! >> sell, sell, sell! >> play until we hear this sound and then the lightning round is over. are you ready, skee-daddy? it's time for the lightning round on cramer's "mad money." let's go to kent. kent! >> yo, yo! >> boo-yah to you. >> i'm liking that boo-yah. what's going on? >> i want to know and get your take on pfizer. i thought i would have the deal. i bought in the low 20s because i like that and should i buy more? >> pfizer? >> yeah. i like pfizer! by the way, bristol-myers pulled back and you get that under 45 and that's also a buy. that's called a two for. let's go to kim in florida! kim?

>> thank you. thank you for taking my call. i watch your show every evening and made lots of money. thank you. >> there you go. thank you right back! >> i'd like to know homestreet, hmst. >> oh, that's a seattle bank. >> buy, buy, buy! >> i think home street, and that stock can go much higher. oh, come on, dave in arizona. >> dave from goodyear, arizona. >> i like that! >> i love the show. jim, got a question for you. assuming the us air merger is approved by the doj, what will happen to the stocks? >> forget about the amr stock that's trading and just focus lcc. i think lcc goes to the mid-20s and then goes even higher. i like that stock a lot. i need to go to beverly in florida. beverly! >> hi, jim, this is beverly from

gainesville, florida, home of the gators and my question is my first-ever ipo trade, pinnacle foods. >> i got frustrated from pinnacle and action alerts and we made 10%. let's move on. i need to see that quarter, p and g is giving pinnacle a run for their money on possible acquisitions and so is conagra. i do welcome pinnacle foods if they do want to come on the show. and that, ladies and gentlemen, is the conclusion of the lightning round! the lightning round is sponsored by td ameritrade. coming up, good harvest? the world population is expected to grow to nearly 9 billion people by 2050 and agriculture company agco is helping feed the obe. can this long-term theme help the stock grow or could weakness overseas leave the company high and dry? cramer has got the exclusive with its ceo.

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no matter how you feel about politics, some groups will always feed it to federal trough. if you're trying to make money it makes more sense to bet with them than to bet against them. the farmer makes the most favorite work in america because nobody can get 940 billion out of the senate, which is what happened with the senate version of the farm bill. this industry has flushed no matter what, not just here, but also in europe where they played the same subsidation game. we don't judge here. every year the world population grows by around 60 million people and that's roughly the size of italy and all of them need to be fed.

over the last decade, farmers have begun to make a lot more money and when they make money they spend it on machinery, i say more power to your portfolio which brings me to agco, and that is the pure play maker of agriculture equipment replacement parts and everything from tractors and combines and sprayers and hay tools and tillage and grain storage. the company has some well-recognized and respected brand names of which i own one and valco. it does half of its business in europe, the middle east and africa and they're beginning to expand in asia and also the leading searle of tractors in brazil and agco's been trailing the market up 11% since the beginning of the year and they reported in the end of april and knocked it out of the park and i have to wonder if this isn't the time to play catch-up with the rest of the market. let's check in with martin, and he's the chairman, president and ceo of agco. welcome to "mad money." thank you for having me.

welcome, what i heard now is you are customer also, so i really appreciate that. thank you for the business! >> i have a 50-year-old massey ferguson and it's one that has -- you know, they're very simple machines back then which brings me to my first question for you which is i see how much money you are now spending on r&d and you're spending on capital expenditures. you must be saying that these tract o these combines are filled with technology now. these are not all generic machines anymore. >> no. the quality is still the same so they last forever. we have excellent service, but also the technology changed a lot, and this is one of the reasons why we can actually help farmers increase their productivity to make them more efficient. >> you're going in some really great companies. we know that, and are you out engineering them because you seem to be growing in a market that many people say is not growing that much.

>> we are leading by technology and our strategy is not to compete by price, but to offer the leading technologies and we are the leaders with the plant in conventional tractors and we have the best tractor in the world and so we also invest a lot in precision farming which has helped the farmer with yield mapping and with auto guidance in order to reduce the use of equipment, the fuel consumption, pesticides and fertilizers and so on. >> on one of the things that i find amazing is you had a huge upside surprise. you're doing incredibly well in brazil and incredibly well in europe and you're doing great in north america, but in the end your stock's up 10% and almost as if it's hostage to crop reports and how wrong is that given the international global breakdown of your business? >> you don't talk too much about farming and that is one reason why we maybe don't have so many investors.

we are undervalued, i agree, but we will have another record year so we are planning to beat our last two records years. we will outperform our competitors and therefore, i think, wise people look into our stock and say this is the right time to buy. >> i can't disagree with you. your business is on fire. one thing i think people worry about is the house of representatives in our country wants to cut the foreign subsidies and europe's weaker and they subsidize farmers. in the end, the farmer does get subsidized, though, right? you're not really concerned and maybe through ethanol or through food stamps, there is money for farmers in this country and in europe. >> yes. actually, and nothing is new. so that means those programs are discussed quite in advance. farmers know what they have to be prepared for and what drives

the demand is as you mentioned already, the growing world population and changing diets like china and india where people tend to eat more meat. as soon as you put in more meat, you have to put in more crops and therefore, farm income is rock solid and that means farmers do have the funds to invest. >> crop prices in this country are not at the highest level, but you're saying worldwide, they're still at a very high level. >> yes. and they are compared to previous years still on a pretty good, pretty high level and what counts is basically farm income. this is the function between the club prices and the input costs and they're making pretty good money and they don't talk so much about it because farmers like more to complain, but they complain on a very high level right now. >> mr. reish, i have one last question and this is important for me. it looks like your raw costs are going down. your labor costs are stable and

that's why the gross margins are so terrific, and better than the rest of the industry. >> our strategy is to increase our margin, to improve our margin, and i want the target to be 12%. we are not there and we are just about 8 to 9 this year and we are shooting for ten for the remainder of the year, and so i think what drives our -- our stock price is, one, we started to pay a dividend. we enjoy creating investment in the meantime and we also want to improve our margin performance and we want to see. >> i know that china is still a very small part of the puzzle for you. what will your pie charts look like say five years from now when it comes to china and apac? >> actually, we are already number two in india for the licensee and those numbers because of the -- we own around 25% of this partner, those

numbers are not consolidated in the sales numbers, for example. in china, we think we will see a big growth because we invested in a combine business. we bought some years ago. we have small tractors, big tractors. we have built a brannew factory. footprint of the company would change towards 20% being generated in china. >> well, sir, your stock sells for below ten times earnings which is ridiculous. you're doing well too well. mr. richenhagen, and thank you so much for coming on "mad money." >> thank you for having me. >> this is a cheap stock and everyone wants a machinery and industrial company, if you can get any company like this that beats the numbers for under ten times earnings that's what you buy. agco is right. stay with cramer. excuse me, sir

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what number finally gets china off our radar screen? what number do we need to see before we say okay, enough already. commodity stocks are so low! the producers are cutting back to the point that you say, we have this level. i think we hit it last night. the chinese gdp growth figure and it was actually in line. that's right. it didn't disappoint! at least for a change. it didn't take the market down and it didn't cause people to talk about the collapse of china! it was just there, kind of a nothing.

it didn't upset. it didn't thrill and just left you saying -- at the same time, the irony of irony, the lead story in today's wall street journal. the big news of the day, china slump ripples globally. wow! stop trading! it's finally a headline that china is slowing. what is this confluence handle? why? remember the market at the bottom? >> our markets used to go down regularly during the 2011 and 2012, didn't they? remember when there were whole periods that we freaked out each single time and how scary it was when we came to work? remember when we would worry about every little piece of data out of europe and we said it's not so hot, but it's not that much worse than expected and then it's roughly in line numbers and then we have to -- i guess, well, not so bad ones and yeah, it figures.

that's progression. that's the five stages of economic group that brought stabilization to the european bourses and the rest of the world. at no point did the data come in better than expected. we still have a smattering of data points that are actually better than expected, but look at how high he's gone without that. the difference is it's now on upside surprise mode and that's quite a journey from the down side when you think about it and no bell ever went off. you never heard that. in retrospect, we saw china slump, except it said european slump. in fact, the gdp number drove the aussie dollar and china would go higher initially. i saw the index rise for many weeks now and the world price of oil is being pulled up by the financial buying and the hedge fund against inflation and it's being aided by the chinese demand.

which is pretty strong with an economy that is growing at a 5.7 clip. to put it in a nutshell for several years now it's been bad, but compared to the rest of the world and anybody else would kill for those numbers and when we hear that, we quickly dismiss it because we know that china is supposed to be growing in double digit, right? what that if china doesn't go back to double digits? what happens if we settle in to the it's not so hot and not worse than expected followed by that's roughly in line and then the -- we get europe and china! we get a bottom. not necessarily a tradable bottom because i don't like the way the stock market works and it's pretty awful at running a stock exchange, and even patient ones when it comes to world trade. all of this tells me you can keep an eye on china and not necessarily in a negative way anymore, either. just keep that bottom in mind. it's beginning to repeat itself in china right now and, well, like usual, it's happening when we least expect it.

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good job at citigroup, letter c. there's always a bull market somewhere. i promise to find it here for you on "mad money." i'm jim cramer and i will see you tomorrow! >> announcer: the following is paid for and furnished by hair club for men and women. this station is not responsible for claims made in the following program. when it comes to hair loss in women, the reasons why can be as varied as the women themselves, but there is one proven hair solution that has taken these women from this to this in as litt as six weeks. it's not a wig, and it's not a weave. it's their own hair, only better, thanks to the only nationwide company that specializes in female hair loss, hair club for women. >> it's a life changer... forever. >> eternally grateful to hair club. >> be bald for the rest of my life or, you know, go to hair club and get hair. it's like, "o.k., probably i should go to hair club." >> and it has been the most freeing experience that i've

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